NEW YORK & DENVER–(BUSINESS WIRE)–Project Canary®, a leading provider of total site-level emissions data and independently verifiable climate credentials that inform operational, investment, security and reporting actions, will establish a process to place Project Canary Verified Climate Attributes™ on EarnDLT’s blockchain-based emissions accounting system, the companies announced today. The agreement aims to facilitate the growth of the differentiated or responsible gas market (RSG) by increasing stakeholder confidence around the tracking, transfer and withdrawal of environmental attributes.
Important highlights of the collaboration include:
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Project Canary and EarnDLT will work together to transform Project Canary Verified Climate Attributes into EarnDLT’s Quantified Emissions Tokens™ and store them on EarnDLT’s enterprise-grade, blockchain-based emissions accounting system.
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Project Canary’s rigorous and reliable attribute verification approach, which utilizes independent measurements and assessments, will be combined with the many benefits of EarnDLT’s blockchain solution, including data immutability and integrity, efficient ownership transfer and emission attribute revocation.
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Both companies will work together to improve the interoperability of Project Canary Verified Climate Attributes with other electronic registries to create a complete universe of non-fungible tokens.
Increasingly, sellers and buyers of RSG are demanding to understand the exact environmental footprint of the gas they produce, transport and buy. By separating the physical gas molecules from their verifiable environmental attributes and recording these attributes on the blockchain, the purchase and sale of differentiated gas is supported by more reliable data, the chain of ownership is completely accurate, and attribute transfer and retirement are far more efficient. As the broader market for environmental properties expands beyond verified low methane intensity gas, these expectations will extend to other properties such as water use and land, security and community properties.
“Our Quantified Emission Token and Emissions Accounting System brings needed transparency and accountability to the fast-growing market for environmental attributes,” said Aaron Lohmann, CEO of Earn DLT. “A blockchain-based platform provides accountability and prevents double-counting of attributes, increasing the transactability of responsibly sourced gas and Project Canary’s other verifiable environmental attributes.”
The companies will work together to make it easier for mutual customers to join the register. As the market expands, the companies will work with customers to seamlessly integrate more environmental features onto EarnDLT’s platform, while ensuring that these tokens can be transferred between different registry platforms to support seller and buyer choice and expand the overall market.
“Buyers want differentiated goods, and the only way to support the buy-side is to achieve verifiable attributes on the sell-side using reliably accurate independent third-party data. Blockchain registries bring radical transparency to markets, adding another layer of trust and accountability for Project Canary’s emissions data and insights, said Chris Romer, co-founder and CEO of Project Canary. “EarnDLT’s registry is one of the missing pieces of the puzzle to create a transactable, reliable market for trading climate attributes. Just as we offer a portfolio of emission sensor technology choices for customers , they also have several register choices, which is good for the differentiated gas market.”
About EarnDLT:
EarnDLT (“distributed ledger technology”) is an enterprise-class blockchain platform that radically improves transaction efficiency and integrity for a variety of industrial and commercial sectors. Earn’s Quantified Emissions Token™ and Emissions Accounting System make buying and selling environmental properties significantly easier and more reliable. The company’s credit and lending solution dramatically scales the settlement process for over-the-counter financial instruments. By redesigning today’s manual and analog processes using the power of blockchain technology, Earn is committed to unlocking new forms of value for businesses and our planet. Read more about Earn’s bold vision for a blockchain-based future here:
About Project Canary
Project Canary® is the leading provider of climate insight for emissions-intensive companies. Asset-level environmental assessments and the Project Canary network sensor provide independently verified climate credentials that impact health, safety, reporting and disclosures. The company provides operational insights, emissions data and Verified Climate Attributes™ to decarbonize energy systems by integrating sensor array data with a real-time portal for in-depth data analysis. Formed as a Public Benefit Corporation, the US Colorado-based team includes scientists, engineers and experienced industrial operators who focus on emissions reduction using a quantifiable, measurement-based approach. www.projectcanary.com
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